The trading day began with an oil price drop. As a result, April 20 low was updated. Now the price is trying to consolidate below the Target Zone 100.35 – 99.47. If traders manage to consolidate the price below the TZ, then the next target for sales will be the Gold Zone 95.97 – 95.54.
Consider new oil sales on correction at strong levels, Additional Zone 100.54 – 100.32 and Intermediary Zone 102.94 – 102.51. The IZ serves as the border of a short-term downtrend. The first target for sales will be to update today’s low.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 104.58 – 104.15.
StopLoss: according to the pattern rules.